The Bank of Korea published its advance estimate of national accounts showing real gross domestic product (GDP, chained volume measure) increased 1.7% in the first quarter of 2026 from the previous quarter, while real gross domestic income (GDI) rose 7.5%. On a year-on-year basis, real GDP grew 3.6%. On the expenditure side, private consumption increased 0.5% and government consumption 0.1%, while construction and facilities investment rose 2.8% and 4.8% respectively; exports increased 5.1% and imports 3.0%. By industry, agriculture, forestry and fishing expanded 4.1%, manufacturing 3.9%, electricity, gas and water supply 4.5%, construction 3.9%, and services 0.4%. The release notes that the “advance” quarterly estimate is followed by a “preliminary” quarterly estimate within 70 days of the quarter’s end, and that chain-weighted real GDP components may not sum to total GDP outside the reference year and the following year.
Bank of Korea 2026-04-23
Bank of Korea reports Korea’s real GDP rose 1.7% quarter on quarter in Q1 2026 advance estimate
The Bank of Korea’s advance national accounts estimate shows real gross domestic product increased 1.7% quarter-on-quarter and 3.6% year-on-year in the first quarter of 2026, while real gross domestic income rose 7.5%. Growth was supported by higher private and government consumption, stronger construction and facilities investment, and increased exports, with broad-based expansion across agriculture, manufacturing, utilities, construction and services.